KPTI - Healthcare Stock Bid Up Following FDA Fast Track

2023-07-18 09:49:15 ET

A Massachusetts-based healthcare company is turning heads on Tuesday after the company announced after hours yesterday that the United States Food and Drug Administration (FDA) has granted Fast Track Designation to the development program of %Selinexor for the treatment of patients with myelofibrosis, including primary myelofibrosis, post-essential thrombocythemia myelofibrosis, and post-polycythemia vera myelofibrosis, according to the release.

This caused traders to bid up shares of %KaryopharmTeherapeutics (Nasdaq: ) during Tuesday’s premarket hours as they’re trying to get into a position early following the news. Shares are currently bid at $1.84/share (+20.26% implied open for sellers) at the time of writing. It should be an exciting session for this small cap!

Karyopharm Therapeutics Inc. is a commercial-stage pharmaceutical company pioneering novel cancer therapies and dedicated to the discovery, development, and commercialization of first-in-class drugs directed against nuclear export for the treatment of cancer and other diseases. Karyopharm's lead compound, XPOVIO(R) (selinexor), is approved in the U.S. in multiple hematologic malignancy indications, including in combination with Velcade(R) (bortezomib) and dexamethasone for the treatment of adult patients with multiple myeloma after at least one prior therapy, in combination with dexamethasone for the treatment of adult patients with heavily pretreated multiple myeloma and as a monotherapy for the treatment of adult patients with relapsed or refractory diffuse large B-cell lymphoma